Best way of day trading - 2652 theory of trading

[sasi0263]

Dhiraj,

I am a little confused about shifting buy and sell orders as the time passes. Let me explain by giving an example.

Let us say factor 1 = 40, factor 2 = 60 and factor 3 = 80 for the day.

Now, at 10.15 high /low is 2800 and 2770. So, factor 1 is applied and I get buy trigger at 2770+40 = 2810 and sell trigger at 2800- 40 = 2760.

Now, at 10.35 high / low is 2808 and 2765, so no order is triggerred and diff. being 43 which is greater than 40. Now my buy / sell orders, shud I use filter 1 or filter 2.

As per filter 1, buy trigger will be 2765 + 40 = 2805 and sell trigger will be 2808 - 40 = 2768. As per filter2, buy trigger will be 2765 + 60 = 2825 and sell trigger will be 2808 - 60 = 2748. Which set of orders will be correct?

I will appreciate if you throw light on such a scenario.

BTW, I generally follow Nifty, Bhel Hdfc, RIL, SBI ( All futures) and I made profits in all the scrips. Many thnx!

Yash



Yash

Dear Yash,
I would like to answer this query on behalf of DHEERAJ.

As per ur example scenario, If trade does not trigger till 10.35 as per first factor(40) then u should go ahead and modify ur order as per new high/Low and use second factor(60), since todays range(H-L) till 10.35 becomes >40

Therefore u should go for second set of orders ie.
long @ 2825
Short @ 2748

Dheeraj, please do not mind, and correct if I am wrong.

 

[sunitas]

hi Dhiraj/bandlab2,

you have been kind enuff to help me out
but there are few things i would like u to let me know

a) are all these calculation based on future stock.

coz i deal in spot at the moment so m working out according to spot only.

b) Mr. Dhiraj said that we need to keep on changing the calculation as per the new highs and new lows

so thats all i need to clarify

thanx n regs,

sunita

 

[sasi0263]

Dear Dheeraj and all 2652 members,

As I am backtesting the method for the monts of year 2008, I have got satisfactory result till now. Will come with the data soon after completion.

I would like to let u know all, that as per Sunil's latest advise, about updating the High/Low even after 10.35 have given much better result. Earlier i was backtesting by taking High/Low till 10.35 only, but after modifying, as per the current understanding(updating the High/Low even after 10.35 for 1st or 2nd trade after SL hit) result was about 1.5 times better. This is based on the result of last 4 months backtesting.

Have a nice trading session tomorrow
Thanks

 

[jhaveri_n]

Like i promised, on the 31st of Jan, here i am with the a spread sheet that will capture data from the nse-india.com for prev day as well as current day, so this what you will have to do. There are two button called 'Previous' and 'Current', now when you start your day at around 10.00, click on the 'Previous' button, you will need to do this only once as these values will remain constant. Now at 10.15, click on 'Current', this will give you todays H/L at THAT POINT IN TIME, again at 10.35, click on 'Current' and if there is any change in the CURRENT DAYS H/L, it will captured. The steps are specified below.

Open the file (Nifty.exe)
Go to the tab BhavCopy
Click on Previous (this will get you Previous days H/L)
At 10.15 click on Current (this will get you Current days H/L till 10.15)
At 10.35 click on Current again (this will get you Current days H/L till 10.35)
Go to tab 'Levels', it has data for all the 50 stocks of NIFTY, including buy and sell levels.

I am still in the process of getting the levels for current months Nifty, as soon as that is done, will post an updated sheet.

Like i said before, this my way of thanks to Dhirajji and Sunil....

 

[rag_bh]

Like i promised, on the 31st of Jan, here i am with the a spread sheet that will capture data from the nse-india.com for prev day as well as current day, so this what you will have to do. There are two button called 'Previous' and 'Current', now when you start your day at around 10.00, click on the 'Previous' button, you will need to do this only once as these values will remain constant. Now at 10.15, click on 'Current', this will give you todays H/L at THAT POINT IN TIME, again at 10.35, click on 'Current' and if there is any change in the CURRENT DAYS H/L, it will captured. The steps are specified below.

Open the file (Nifty.exe)
Go to the tab BhavCopy
Click on Previous (this will get you Previous days H/L)
At 10.15 click on Current (this will get you Current days H/L till 10.15)
At 10.35 click on Current again (this will get you Current days H/L till 10.35)
Go to tab 'Levels', it has data for all the 50 stocks of NIFTY, including buy and sell levels.

I am still in the process of getting the levels for current months Nifty, as soon as that is done, will post an updated sheet.

Like i said before, this my way of thanks to Dhirajji and Sunil....

Looks great. will try using it today..thanks

 

[jhaveri_n]

Looks great. will try using it today..thanks

Thanks Rag_bh, its so funny, i started working on this with the aim to capture data for Nifty (infact i even names the file Nifty.exe) am still unable to get data for every thing else except that....

LOL

 

[sasi0263]

Thanks Rag_bh, its so funny, i started working on this with the aim to capture data for Nifty (infact i even names the file Nifty.exe) am still unable to get data for every thing else except that....

LOL

Hi Jhavery,

Thanks for this rigourous work. It will be helpful if u add the Nifty future as here most of us trade that index.

Thanks

 

[uthuman]

Thanks Jhaveri
In TJ everybody is helping to make the trade simple for the fellow trader members. Really very useful. I will try to use to today..

uthuman

Like i promised, on the 31st of Jan, here i am with the a spread sheet that will capture data from the nse-india.com for prev day as well as current day, so this what you will have to do. There are two button called 'Previous' and 'Current', now when you start your day at around 10.00, click on the 'Previous' button, you will need to do this only once as these values will remain constant. Now at 10.15, click on 'Current', this will give you todays H/L at THAT POINT IN TIME, again at 10.35, click on 'Current' and if there is any change in the CURRENT DAYS H/L, it will captured. The steps are specified below.

Open the file (Nifty.exe)
Go to the tab BhavCopy
Click on Previous (this will get you Previous days H/L)
At 10.15 click on Current (this will get you Current days H/L till 10.15)
At 10.35 click on Current again (this will get you Current days H/L till 10.35)
Go to tab 'Levels', it has data for all the 50 stocks of NIFTY, including buy and sell levels.

I am still in the process of getting the levels for current months Nifty, as soon as that is done, will post an updated sheet.

Like i said before, this my way of thanks to Dhirajji and Sunil....

 

[bandlab2]

Like i promised, on the 31st of Jan, here i am with the a spread sheet that will capture data from the nse-india.com for prev day as well as current day, so this what you will have to do. There are two button called 'Previous' and 'Current', now when you start your day at around 10.00, click on the 'Previous' button, you will need to do this only once as these values will remain constant. Now at 10.15, click on 'Current', this will give you todays H/L at THAT POINT IN TIME, again at 10.35, click on 'Current' and if there is any change in the CURRENT DAYS H/L, it will captured. The steps are specified below.

Open the file (Nifty.exe)
Go to the tab BhavCopy
Click on Previous (this will get you Previous days H/L)
At 10.15 click on Current (this will get you Current days H/L till 10.15)
At 10.35 click on Current again (this will get you Current days H/L till 10.35)
Go to tab 'Levels', it has data for all the 50 stocks of NIFTY, including buy and sell levels.

I am still in the process of getting the levels for current months Nifty, as soon as that is done, will post an updated sheet.

Like i said before, this my way of thanks to Dhirajji and Sunil....

thanks a ton jhaveri.i will use this today.what is PrevBHav ? do we need it? also plconfirm these are spot prices. how to get futue prices?

 

[dayder]

Hi, Super-minded dhiraj,
I played yesterday, using your strategy. I'm surprised to see it works to the core level. Wow ! After many years of trading in loss to the tune of many lakhs, trying so many strategys, now I stumbled upon a strategy, which is a SURE WINNER !
Thanks buddy, I don't find any other suitable works to express my
THANKS to you, sunil, sasi, bandlab.

In trading,
Dayder.